MYM and its partner Elite Ventures have acquired 1.6 million seeds with CBD levels of 10%-20% from the 57,600-square-foot nursery owned by CROP in Nye County. The newly built nursery is equipped with trays and LED lighting specially designed to enhance the growth of plant starts for the 2019 CBD farms licensed on CROP’s various properties in the state.
The global medical cannabis market value is expected to reach a value of $45.4 billion by 2024, with a CAGR of 22.9% during 2019-2024, according to IMARC research. Last year, the firm estimated that the value would hit $13.4 billion.
“With 1.6 million seeds purchased and being prepared to be planted, our 2019 grow season is nearly underway,” MYM CEO Howard Steinberg stated. “The Nevada project is a key component in our strategy to create a massive CBD-rich hemp footprint around the globe with the goal of becoming one of the largest cultivators and bulk CBD isolate suppliers in the world.”